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Mcdowell raises $ 230 mn via GDS

Written by: Staff

Mumbai, Mar 30 (UNI) Liquor company Mcdowell has allotted 87,51,381 equity shares of Rs 10 each for raising USD 130 million through global depository shares (GDSs).

The company has also raised another USD 100 million via foreign currency convertiable bonds(FCCBs).

The UB group company today informed the BSE the decision to issue 17,502,762 GDSs, with 2 GDSs representing one equity share, at a price of USD 7.4274 per GDS ( Rs 660 per share) was taken in the board meeting held yesterday.

Post-allotment, the paid-up equity capital will stand at over Rs 604 crore at 60,471,409 shares of Rs 10 each.

The company has also issued 2 per cent convertible bonds due 2011, each bond having face value of USD 1000. The bonds are convertible by holders into shares at par value of Rs 10 each or GDSs.

It said GDSs will be listed at Luxembourg Stock Exchange, while FCCBs at the Singapore Stock Exchange.


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